President Trump Delivers on Another Promise

President Trump signed an executive order Monday meant to slash Americans’ pharmaceutical costs by up to 90% by tying the price paid by government programs like Medicare to the rates drug companies charge overseas customers. It is called a “Most Favored Nation” tie-in.

 

“What’s been happening is, we’ve been subsidizing other countries throughout the world,” Trump explained at a White House signing ceremony.

“Some prescription drug and pharmaceutical prices will be reduced almost immediately by 50 to 80 to 90%", he added. “Big Pharma will either abide by this principle voluntarily or we’ll use the power of the federal government to ensure that we are paying the same price.”

The policy is a revival of Trump’s signature “Most fmFavored Nation” drive from his first term, with a new push to get foreign countries to take on more of the research and development (R&D) costs that experts say America has disproportionately shouldered.

It is about time that the R&D costs are paid by every country which uses these drugs.

The order directs US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick to “,” White House officials said.

Additionally, the Food and Drug Administration will try to import drugs from other countries in a bid to bring consumer costs down. Under current law, the FDA can import certain drugs from Canada to bring costs down, as long as health and safety are not put at risk. Trump wants that carveout expanded to other nations.

Behind all this, is the specter of tariffs in play to keep other nations from suppressing their prices. Additionally, those politicians who have been paid off by the pharmaceutical lobby will be losing another gravy train.

You can be sure that members of both parties are not happy, but they cannot cry too much, lest the public learn the truth about how they have all been bought off, at the expense of their constituents.

Considering, for example, that the discoverers of insulin GAVE their patents to the pharmaceutical companies for FREE, why is the cost of a 30-day supply of insulin over $2,000 with little no insurance? And that is just one example.

You are proving to be a man of your word. In spite of all your critics’ lies, both in the Congress and the media.

So thank you, President Trump, for promising to reduce our needed prescription costs and keeping it.